Nucor +1.5% on solid Q1 results, positive Q2 outlook

|About: Nucor Corporation (NUE)|By:, SA News Editor

Nucor (NUE +1.5%) is higher after reporting Q1 earnings in-line with prior guidance and beating estimates on revenues, as it sees renewed demand growth in energy and non-residential construction markets.

NUE says Q1 earnings were the highest in recent years, and it expects Q2 earnings to improve vs. Q1, forecasting improved performance in its steel mills segment as metal margins expand at sheet mills due to the delayed impact of contract pricing.

NUE says average sales price per ton rose 21% Y/Y and 8% Q/Q, with total tons shipped to outside customers of 6.58M tons up by 7% Y/Y and 13% Q/Q.